Sampath Bank will transform the local banking industry through its partnership with GT Nexus which will take Lankan manufacturers to the cloud-based era.
The partnership will streamline their export operations by facilitating access to capital in the supply chain as early as the purchase order.
GT Nexus is the world’s largest cloud-based business network and execution platform for global trade and supply chain management, managing over US$500 billion in goods on its platform. Through this partnership, Sampath Bank will open up a world of new opportunities for local exporters, by giving them access to over 25,000 clients already onboard with GT Nexus and by allowing them to harness the ready visibility and automation provided by the cloud-based platform.
Sampath Bank Corporate Banking Senior Deputy General Manager Shashi Kandambi Jassim, said, “GT Nexus enables us to plug into the global supply chains of the world’s biggest companies and remove risk and friction.
This partnership with GT Nexus is a testament to Sampath Bank’s drive towards innovation, and will bring together buyers, sellers, financiers and all other stakeholders together on one platform. Further, it will equip Sri Lankan exporters with a constant stream of real-time trade information across multiple supply chain functions, allowing them to operate seamlessly with global based partners from the point of order through final payment.
GT Nexus President Kurt Cavano said “Traditional supply chain finance provides limited value and flexibility. The combination of network connectivity, cloud technology and multi-party visibility enables a transformation in the way supplier funding is delivered. Suppliers can access funding when they need it. This is essential to ensuring the health and strength of today’s complex global supply chains.”
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